Real Estate Finance and Discrimination in Fair Lending Practices

The American dream is to buy and own one's own house. Often times individuals do not have the funds to purchase their own homes. Conventional and government insured loans are making these dreams become a reality for most. Agencies such as the Federal Housing Administration (FHA) and the Veteran's Administration (VA) insure loans and also provide guarantees on them. If everything goes smoothly with the interview and all information is correct, a loan decision can be made within a week. As in many cases, there are problems with fairlending and discrimination. There are things that individuals can do to correct this problem and thereby make the American dream a reality for those whose credit will allow them to.